Sweaty Betty, the premium activewear company, has released its financial results for the past year, and they are nothing short of impressive. Despite the challenges posed by the pandemic and resulting restrictions on physical stores, Sweaty Betty was able to achieve a remarkable 45% increase in turnover compared to the previous year.

During the period from January to April, Sweaty Betty’s physical stores were forced to close due to lockdown measures. However, the brand’s strong digital presence proved to be a saving grace as it continued to generate revenue. This digital success contributed to the company’s turnover reaching an impressive £183.2 million, up from £126.5 million, and gross profit increasing from £70.1 million to £94.5 million.

An interesting aspect of Sweaty Betty’s revenue distribution is its geographical breakdown. In 2021, 67% of the company’s revenue came from the UK, a slight decrease from the 70% recorded in 2020. The US accounted for 21% of revenue, down from 22%, while the rest of the world contributed 12%, up from 8%. These figures highlight Sweaty Betty’s growing international appeal.

Sweaty Betty’s success can also be attributed to the support it received from the government. The brand benefited from furlough payments, business rates relief, and rent concessions agreed with landlords. However, the company had to bear additional costs to implement safety measures in its stores, offices, and warehouse during the pandemic.

The exceptional performance of Sweaty Betty caught the attention of Wolverine Worldwide, a prominent US retail giant. Wolverine Worldwide recently acquired Sweaty Betty for a staggering £294 million. This acquisition speaks to Sweaty Betty’s ability to capitalize on the growing athleisure trend that has gained significant momentum in recent years.

Overall, Sweaty Betty’s outstanding financial results underscore its ability to adapt and thrive in challenging circumstances. The brand’s effective utilization of digital channels and its commitment to providing a premium activewear experience have clearly paid off. With the support and resources of Wolverine Worldwide, Sweaty Betty is poised to continue its success in the competitive activewear market.

Useful links:
1. Sweaty Betty Official Website
2. Wolverine Worldwide Official Website